Polaris World has 3 months to negotiate “amicable” solution with creditors
p>Polaris World, Spain’s biggest developer of golf resorts, has 3 months to negotiate an “amicable” solution with its creditors after admitting that it has “temporary liquidity problems in some of its subsidiaries.”
Market for new homes on road to recovery say developers
The market for new homes is on the road to a mild recovery, claims the G-14 group of Spain’s leading developers. Sales of newly built homes will continue “consolidating in the coming months” said Pedro Pérez, head of the G-14. Let’s hope this is not just wishful thinking by developers desperate for the market to [...]
Trampolin Hills development in bankruptcy proceedings
The developer of the Trampolin Hills Golf Resort in Murcia has been forced into in bankruptcy proceedings unable to cope with its debts, reports the local newspaper La Verdad. A court has appointed administrators to run the company, and creditors now have a month to register their claims.
Llanera on track to be first Spanish developer to emerge from court administration
Llanera, the first big Spanish developer to go into administration owing millions of Euros to British and other foreign buyers, looks likely to be the first developer to emerge from court protection after restructuring its debts.
Torrevieja real estate company Torrevisa-Masa International seeks protection from creditors
The Torrevieja-based real estate developer and agency Torrevisa-Masa International, better known to overseas buyers as Masa International, is reported to have sought court administration to protect it from its creditors, according to an article today in the Spanish press.
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